Rumors that central banks may infuse the European economy with much needed capital sent the markets soaring to a sharply higher close with the Dow leaping 155 points to 12,651. Nasdaq gained 17 points to 2836.

On the upside

International Game Technology (NYSE: IGT) announced plans to repurchase up to $1 billion worth of common stock.

Reuters reported that Bank of America Merrill Lynch contacted a number of private equity firms to about acquiring Huntsman (NYSE: HUN).

Shares of Supervalu (NYSE: SVU) climbed after rival Kroger (NYSE: KR) reported higher first quarter earnings and raised its full year guidance.

On the downside

Lattice Semiconductor (Nasdaq: LSCC) warned that second quarter revenue will fall short of expectations.